Valerio at Ocotillo Condominiums

What Valerio at Ocotillo Condominiums's governing documents say

Valerio at Ocotillo Condominiums is a multi-family condominium in Chandler, Arizona — you own your individual unit and share ownership of the building's common elements, governed by both the condominium association and the broader Ocotillo Community Master Association. The property is adjacent to a lake operated by the master association, which creates significant ongoing noise, maintenance, and liability considerations.

• What you own & maintain: You own your unit (defined as airspace on the Plat) and exclusive limited-common elements like your patio, balcony, and exterior doors/windows; the association maintains the shared structure, building systems, and common grounds.
• Assessments & fees: Common-expense assessments are allocated proportionally by unit size (your share = your unit area ÷ total unit area); the association also levies special assessments, community-enhancement fees, working-capital fees, reserve-accumulation fees, and reclaimed-water fees as needed.
• Lake adjacency — no ownership, limited use, noise & liability: The adjacent lake is owned and operated by the Master Association, not your condominium; you have no ownership interest or guaranteed use rights from owning a unit. Lake maintenance occurs day and night, water spray may drift onto units, views are not guaranteed, and the master association may alter the lake at any time. You must assume all liability and cannot sue for nuisance, property damage, or injury from lake operations.
• Voting & governance: Each unit owner has one vote in the association, regardless of unit size.
• Leasing & rentals: Leasing is permitted; the association charges a tenant administration fee and imposes additional restrictions.
• Master Association oversight & expansion: The property is subject to the Ocotillo Community Association (master planned community) rules, architectural design review, and additional master assessments; the declarant can add up to 40 additional units during the development phase without owner consent, which may affect future assessments.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.